Adani Group Likely to Bid for Air India

According to highly placed sources group has held internal rounds of deliberations on whether or not to submit an Expression of Interest (EoI) and that the discussions are still in the preliminary stage.

Adani Group Likely to Bid for Air India

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With the government pushing for the disinvestment of Air India, industrial conglomerate Adani Group may emerge as one of the bidders for the debt-laden national carrier, sources said.

According to highly placed sources group has held internal rounds of deliberations on whether or not to submit an Expression of Interest (EoI) and that the discussions are still in the preliminary stage.

If the company actually submits an EoI, it would be a major move towards further diversification of the company which has business interests across sectors right from edible oil, food to mining and minerals.

It also entered into airport operations and maintenance business and won bids for privatisation of six airports, Ahmedabad, Lucknow, Jaipur, Guwahati, Thiruvanathapuram and Mangaluru in 2019.

The government in January restarted the divestment process of the airline and invited bids for selling 100% of its equity in the state-owned airline, including Air India’s 100% shareholding in AI Express Ltd. and 50% in Air India SATS Airport Services Private Ltd.

Air India is one of the most important divestment target for the current fiscal to reach a huge Rs 2.1 lakh crore target.

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